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Giving OPEC Too Much Credit

posted by Avatar DannyBly 571 days ago in Fundamental, Daily, Oil made popular 571 days ago

When Ali Naimi speaks the markets listen but should they? Some gave credit to yesterday’s big rally in oil to comments by the “Alan Greenspan” of oil, the de facto leader of the OPEC cartel, Ali Naimi, who said that oil was in a comfortable range between $70 and $90. Some took that to mean that Mr. Naimi was hoping for 90 barrel oil.
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